A new round of $5.5 million has been ploughed into owner support service Evolve Vacation Rental Network by T Rowe Price.

The Series B investment funds have been bolstered by participation from Annox Capital and Allen & Company.

The total funding to date for the Colorado, US-based company have now reached $12 million.

The latest injection of capital will be used to expand the team and support its marketing efforts to attract more owners in the North American region.

Evolve specialises in providing vacation rental management services including owner websites and marketing tools, booking platforms, customer services and guest communications.

It also handles distribution into third party platforms such as TripAdvisor, HomeAway and VRBO.

Founded in 2011 by Brian Egan and Adam Sherry, more than 2,000 properties in 300 destinations in North America are currently on the company’s roster.

Bob Mylod, a previous investor in the company and former-vice chairman and chief financial officer at Priceline, sits on the company’s board of directors.

Read original article